Kenneth Rijock

Friday, May 12, 2017

PANAMA IGNORES ALL THE OTHER MOSSACK FONSECA MONEY LAUNDERERS

If you are a keen observer of the progress of the Panamanian Government's investigation of Mossack and Fonseca, you know that, outside of the name partners themselves, only one other partner, Edison Teano, and one law firm associate (its Brazil manager) face criminal charges. This is unfortunate, because it was the line attorneys & paralegals* who actually did all the dirty work for clients, including the opening of bank accounts, acting as front men for corrupt PEPs, and formation of layered corporate entities, designed solely to deter the identification of the dodgy MF customers.

As I have previously named most of them in articles, they are not faceless unknowns; many have transitioned into other Panama City law firms. It is feared that some took MF clients with them, and are right back at their dark craft, somewhere else. Foreign attorneys who are seeking local Panama counsel for their clients would do well to choose only lawyers whose activities, during the past decade can be readily ascertained, by their CVs, and can be verified, lest you engage a Mossack alumnus or alumna, and later learn that you local counsel has been indicted, somewhere, for money laundering, or worse, terrorist financing.
______________________________________________________________________________
* Paralegal professionals at Mossack Fonseca are known to have been engaged in the delivery of legal and tax advice, in the course of their duties, which we must assume was on the instructions of the firm, but it is doubtful that any will be brought to justice for the unauthorized practice of law. Many held titles which inferred professional legal status, but they were not so qualified.